In order to the selection of the strategic focus for the sigma’s marketing strategy will look at the SWOT analysis. SWOT analysis will help to structure information to uncover competitive advantages. Basically will cover the internal (strengths and weakness) and external (opportunity and threats) environment of Sigma marketing. Strength of Sigma marketing One of sigma’s strength is the ability to understand market opportunities and develop and continues to adapt its strategic focus. As the environment changes sigma gathers information from their existing and potential customers to develop most effective marketing strategy.
The direct marketing approach would permit sales penetration into much larger area. Also the direct marketing approach will gives personalized feeling to customers. Sigma has unique niche in term of providing quality and services to their customers. Over the years, sigma successfully built a brand reputation as a producing most creative products and highly service oriented company in the market. Sigma has committed employees which are highly skilled in their line of work. Sigma also shown ability in adapting new technology. Don sapit and Mike are one their strength as a superior management talent.
They set a classic example of product innovations and product line extension in their business. Weakness of Sigma marketing Every firm has their own weakness, Sigma has limited capital to finance their growth. One of their biggest weakness is the low margins from the revenue. In addition to that the production requires higher processing cost. Sigma is depended on a very small pool of table of human power. The key employees with long tenure will soon be considering retirement and sigma required a human power with very specific talent which is difficult to find.
Sigma is a small business in nature so in the event of some cause or disability to superior management will impact huge on the business. Opportunity for Sigma marketing Sigma marketing has an opportunity to expand their customer base by doing advertising and promotions. They should go on social media for marketing. There is also a scope to adapt new technology in term of doing digitalization. One their biggest opportunity is to focus on the key accounts and increase margin on the product. Threats for Sigma marketing Their major threat is their some product life cycle is in decline stage as new technological changes take place.
This technological change is also resulting in changing customer’s needs and taste. With the changing marketing environment rising competitions is also one of their threat. Strategic Focus Sigma marketing has an opportunity to develop marketing strategy to aggressively take on multiple opportunity like expansion and growth, new product and new markets. This are the key approaches to capitalize the many internal strength and many opportunity. Strength 1 Reducing Opportunity 1 Weakness 1 Higher production cost Threats